Confiscated money - Egypt Today
Confiscated money - Egypt Today

Egypt to host int'l forum on fighting corruption in 2019

Tue, Jul. 30, 2019
CAIRO - 30 July 2019: Egypt will host an international forum on fighting corruption in 2019, according to Head of the Libyan money laundering unit and chief of the MENA Financial Action Task Forceto Combat Money Laundering and Financing Terrorism Sobhy Mosbah Zaied.

Zaied's speech came at a workshop on fighting money laundering, where he added that Egypt is one of the founding member states of the force.

"Egypt is a founding member of the Financial Action Task Force in the Middle East and Africa and has a prominent role in supporting regional and international action in the field of money laundering and financing terrorism,"Zaied said.

The Egyptian leadership realizes that corruption can cause deviation of authority, provide an opportunity for organized crimes to occur, and would lead to inequity among citizens and mistrust of government. Thus, the country is committed to take positive steps to promote transparency and to establish a sound anti corruption framework.

These positive steps include ratifying the U.N. convention against Corruption (UNDAC) in 2005 and the U.N. convention against Transitional Organized Crime (UNTOC). In addition, since 2014 Egypt became a state party in the Arab League pan-Arab anti-corruption instruments, the Arab Convention to Fight Corruption.

Egypt has also implemented institutional reforms and deepened its partnerships with the European Union (EU) and the United Nations (UN) on anti-corruption and anti-money laundering. Cooperation efforts with the EU and UN include providing technical and institutional support, training prosecutors to fight corruption, research, data analysis and enhancing global and regional cooperation in this area.
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